Elon’s DOGE Time Finally Drops

And, Enphase Energy's weak forecast.

April 23, 2025

Today is Wednesday, April 23, 2025.

The Early Bird Index today is 64.50

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Elon’s DOGE Time Finally Drops

Despite a drop in earnings for Tesla $TSLA ( ▼ 3.38% ) , the stock jumped 5.39% in after-hours trading on Tuesday after CEO Elon Musk announced that his time on DOGE will soon drop.

Financials: On Tuesday, Tesla reported earnings of 27 cents per share and revenue of $19.3 billion in the past quarter; both were lower than expected.

Powering the Story: Musk said his time allocation to DOGE (Department of Government Efficiency) will drop “significantly” in May. He will spend more time working at Tesla.

Early Bird’s Nest Egg Gains: Musk’s involvement with the Trump administration’s DOGE has significantly damaged Tesla’s reputation, contributed to a sharp decline in sales and profits, and sparked widespread protests and calls for Musk to step down as CEO.

Final Thoughts: Before Tuesday, Tesla’s stock was down 38% this year.

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Notables

Notable Earnings Today: Chipotle Mexican Grill (NYSE: CMG), Boeing (NYSE: BA), O'Reilly Automotive (Nasdaq: ORLY), AT&T (NYSE: T), Alaska Air (NYSE: ALK), Vertiv (NYSE: VRT), International Business Machines (NYSE: IBM), Texas Instruments (Nasdaq: TXN), Las Vegas Sands (NYSE: LVS), ServiceNow (NYSE: NOW), Discover Financial Services (NYSE: DFS), NextEra Energy (NYSE: NEE), Philip Morris International (NYSE: PM), Whirlpool (NYSE: WHR), Newmont Corp (NYSE: NEM), GE Vernova (NYSE: GEV), Old Dominion (Nasdaq: ODFL), Virtu Financial (Nasdaq: VIRT), Western Union (NYSE: WU), Knight-Swift Transportation Holdings (NYSE: KNX), United Rentals (NYSE: URI), Boston Scientific (NYSE: BSX), Lam Research (Nasdaq: LRCX), Amphenol (NYSE: APH), Century Communities (NYSE: CCS), Check Point Software (Nasdaq: CHKP),  Churchill Downs (Nasdaq: CHDN), CME Group (Nasdaq: CME), Edwards Lifesciences (NYSE: EW), Healthcare Services Group (Nasdaq: HCSG), IMAX (NYSE: IMAX), Lithia Motors (NYSE: LAD) M/I Homes (NYSE: MHO), Masco (NYSE: MAS), New Oriental Education & Technology (NYSE: EDU), OFG Bancorp (NYSE: OFG), Popular (Nasdaq: BPOP), Prosperity Bancshares (NYSE: PB), QuantumScape (NYSE: QS), Raymond James (NYSE: RJF), Ryder System (NYSE: R), Taylor Morrison Home (NYSE: TMHC), Thermo Fisher (NYSE: TMO), Travel + Leisure Co (NYSE: TNL), Wabtec (NYSE: WAB).

Notable IPOs Today: Texas Ventures Acquisition III Corp Unit (Nasdaq: TVACU).

Notable Equity Crowdfunding Campaigns Ending Today: Roc Paper Straws (Honeycomb), SelfDecode (StartEngine), Knight Of Abyss Studios (Wefunder), RadHash (Wefunder).

Notable Economic Events Today: S&P Global Manufacturing  / Services / Composite PMI (9:45 a.m. ET), New Home Sales (10:00 a.m. ET), Crude Oil Inventories (10:30 a.m. ET), Beige Book (2:00 p.m. ET).

Enphase Energy's Weak Forecast

Enphase Energy $ENPH ( ▲ 0.96% ) plunged 9.90% in after-hours trading on Tuesday after the company reported bad financial earnings results.

Financials: Enphase reported earnings of 68 cents per share and revenue of $356.1 million in the past quarter; both were lower than expected.

Powering the Story: The company’s financial outlook for the current quarter was also weaker than anticipated.

Final Thoughts: Enphase is down 25% this year. It’s a bad market for alternative energy.

Bristol-Myers Squibb’s Schizophrenia Treatment Trial

Bristol-Myers Squibb $BMY ( ▼ 0.88% ) fell 4.15% in after-hours trading on Tuesday after announcing mixed trial results for its new schizophrenia treatment.

Final Thoughts: The company reports financial earnings results on Thursday.

More Tariff Pain: Intuitive Surgical Dives. The Impact From Tariffs 'Could Be Material.' (Investor’s Business Daily)

Today’s Most Obvious Report: IMF says Trump’s tariffs will be a drag on global economic growth (Washington Post)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.